Absence of failure on part of assessee to disclosed material facts would make reassessment unjustified; SLP dismissed

INCOME TAX : SLP dismissed against High Court ruling that where AO issued reopening notice against assessee, engaged in life insurance business, after expiry of four years from end of relevant year, since in reasons recorded there was no reference to any new tangible material but reference was only to financial statement of assessee itself, impugned notice issued merely on basis of change of opinion, was to be quashedINCOME TAX : SLP dismissed against High Court ruling that where AO issued reopening notice against assessee, engaged in life insurance business, after expiry of four years from end of relevant year, since in reasons recorded there was no reference to any new tangible material but reference was only to financial statement of assessee itself, impugned notice issued merely on basis of change of opinion, was to be quashedwww.taxmann.com Latest Case LawsRead More

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